Teachers Retirement System of The State of Kentucky Sells 311,044 Shares of CNX Resources Co. (NYSE:CNX) (2024)

Teachers Retirement System of The State of Kentucky decreased its holdings in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 83.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,881 shares of the oil and gas producer's stock after selling 311,044 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in CNX Resources were worth $1,468,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Hexagon Capital Partners LLC lifted its holdings in shares of CNX Resources by 113.4% during the first quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer's stock worth $51,000 after buying an additional 1,136 shares in the last quarter. First Eagle Investment Management LLC acquired a new stake in shares of CNX Resources during the fourth quarter worth $55,000. Natixis acquired a new stake in shares of CNX Resources during the first quarter worth $79,000. TFO Wealth Partners LLC lifted its holdings in shares of CNX Resources by 64,084.6% during the fourth quarter. TFO Wealth Partners LLC now owns 8,344 shares of the oil and gas producer's stock worth $167,000 after buying an additional 8,331 shares in the last quarter. Finally, Team Hewins LLC acquired a new stake in shares of CNX Resources during the first quarter worth $218,000. Institutional investors and hedge funds own 95.16% of the company's stock.

Analyst Ratings Changes

CNX has been the subject of a number of research reports. Piper Sandler lifted their target price on CNX Resources from $18.00 to $22.00 and gave the stock a "neutral" rating in a report on Friday, April 19th. Stephens reaffirmed an "equal weight" rating and issued a $27.00 price target on shares of CNX Resources in a research note on Monday, July 15th. Truist Financial boosted their price target on CNX Resources from $30.00 to $31.00 and gave the company a "buy" rating in a research note on Monday, July 22nd. Scotiabank boosted their price target on CNX Resources from $20.00 to $25.00 and gave the company a "sector underperform" rating in a research note on Thursday, April 11th. Finally, StockNews.com downgraded CNX Resources from a "hold" rating to a "sell" rating in a research note on Saturday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $25.57.

Get Our Latest Research Report on CNX Resources

CNX Resources Price Performance

CNX Resources stock traded up $0.31 during midday trading on Tuesday, reaching $24.42. The company's stock had a trading volume of 3,171,065 shares, compared to its average volume of 2,862,002. CNX Resources Co. has a 52 week low of $19.07 and a 52 week high of $27.33. The company has a current ratio of 0.41, a quick ratio of 0.40 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $25.24 and a 200-day moving average price of $23.39. The stock has a market cap of $3.74 billion, a PE ratio of 4.42 and a beta of 1.37.

CNX Resources (NYSE:CNX - Get Free Report) last released its earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.09. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. The firm had revenue of $321.44 million for the quarter, compared to analysts' expectations of $387.46 million. During the same quarter in the previous year, the business posted $0.29 earnings per share. On average, sell-side analysts predict that CNX Resources Co. will post 1.36 EPS for the current year.

CNX Resources Profile

(Free Report)

CNX Resources Corporation, an independent natural gas and midstream company, engages in the acquisition, exploration, development, and production of natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane (CBM). It produces and sells pipeline quality natural gas primarily for gas wholesalers.

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